Exam topics

Showing 21–30 of 280 articles · Page 3 of 28

• Strict, absolute, and vicarious liabilityStrict liability means a claimant may establish liability without proving that the defendant failed to use reasonable care, but the claimant still mus…
• Split limits vs. combined single limitSplit limits divide liability coverage into separate caps, commonly per injured person, per accident for bodily injury, and per accident for property …
• Medical payments vs. PIP coverageBoth medical payments coverage and personal injury protection (PIP) can pay eligible medical expenses after an auto accident without first requiring t…
• Policy limits and aggregatesA per-occurrence limit is the most the policy will pay for a covered occurrence under the applicable coverage part; an aggregate is a ceiling on payme…
• The insurance declarations pageAn insurance declarations page is the policy summary that identifies the insurer, named insured, policy number and dates, covered property or exposure…
• Duty to defend vs. duty to indemnifyThe duty to defend concerns an insurer’s obligation under the policy to defend a covered type of lawsuit. The duty to indemnify concerns payment of co…
• Named insured vs. additional insuredA named insured is a person or organization identified as an insured in the policy’s declarations or definitions. The first named insured is the first…
• Homeowners Coverage A through FIn a common ISO homeowners form structure, Coverage A is the dwelling, B is other structures, C is personal property, D is loss of use, E is personal …
• Mortgagee vs. loss payeeA mortgagee clause protects a lender or trustee with a mortgage interest in insured real property and may give it rights separate from the property ow…
• Subrogation in insuranceSubrogation is the right an insurer may have, after paying a covered claim, to pursue a responsible third party using the insured's recovery rights to…